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LATEST ARTICLES
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Disagreement over where US interest rates are going has split opinion on overall prospects for emerging market currencies.
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While the impact on energy is centre stage, the war in Ukraine is also wreaking havoc on soft commodity prices and trade routes. Trade in agricultural commodities is taking a hit. The pool of banks financing these commodities is already dwindling, while the risks for those that remain are growing.
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Without Russia, Raiffeisen will be a different entity – one focused on safer countries in the former Habsburg heartlands. The low home-market profitability that Russia once served to mitigate, however, will be more evident than ever.
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The fiscal deterioration of Latin America’s former totem has more than just the pandemic behind it.
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The hard truth is that in much of the developing world, climate change still ranks well below more immediate concerns such as unemployment, disease, poverty and political unrest for households and businesses.
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Policymakers in Moscow are finally promising to tackle climate change. Will the Russian private sector follow suit?
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Chilean corporates can now sell through Euroclear, following the sovereign’s successful experience.
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Payments company prices above range as it shrugs off regional valuation constraints on Nasdaq debut.
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Naysayers were swift to condemn Lithuanian involvement in the German scandal.
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Emerging markets have regained some of the buoyancy lost during the early months of the coronavirus crisis, but analyst opinions hint at the difficulty of identifying which EM currencies investors should favour.
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The saga of Poland’s Idea Bank has finally been resolved with a forced takeover by number two player Pekao. But questions remain over the role of the state.
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A new book concludes that the rules for trading EM FX and fixed income have successfully survived Covid.
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In a year of shocks and surprises, it’s hard to say where Mexico’s economic and financial performance ranks – but it’s up there.
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The Dominican Republic’s banks, which were supported by a swift series of measures when Covid-19 struck, are now being asked to fund the government until fiscal reform can be enacted.
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While the FX non-deliverable forward (NDF) market has demonstrated its resilience in the face of a spike in spreads during the early stages of coronavirus, there are concerns over its capacity to destabilize onshore markets in emerging economies.
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Credit Suisse has hired several big guns in the battle for the banking market in Brazil. Chief among them is Ilan Goldfajn, ex president of the central bank of Brazil.
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The Multilateral Investment Guarantee Agency had already set itself ambitious goals even before Covid-19 hit the world. Its new head argues that the pandemic makes its mission all the more relevant.
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How can quantitative easing best alleviate the financial fallout from Covid-19? Unconventional monetary policies make investors in emerging markets uncomfortable – especially in Latin America. Little wonder that central banks are treading a cautious path.
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The markets have been very relaxed about emerging markets adopting quantitative easing – and that, in itself, could become a problem.
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Does the investment manager’s decision to shutter its Hong Kong office and relocate to Shanghai matter?
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And the joint global coordinator is C█████ Sui███?
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Euromoney Country RiskThere is seemingly no easing of risk for the two countries, despite the anticipated third-quarter economic improvement.
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Joseph Poon is group head of DBS Private Bank, one of Asia’s leading wealth managers. But the event that drives him today, informing his values and his views on investing and risk management, was stepping aboard a rickety raft in 1976 to flee an impoverished and divided Vietnam.
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Euromoney Country RiskEuromoney asked its panellists to rescore Lebanon’s risks in the aftermath of the port tragedy on August 4, with investors left pondering what’s next for a country now desperately in need of aid and finance for reconstruction.
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The government’s resignation this week could pave the way for reform – and unlock essential IMF funding – but is the will to change there?
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As expected, DBS and UOB reported dramatic year-on-year declines in profitability, but both were protected by their range.
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Euromoney Country RiskAnalysts can see through the economic and fiscal shock to observe a country with its underlying strengths intact.
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The managing director retires in October. RBI has three names to contemplate as his possible successor.
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Najib Razak’s 12-year sentence on corruption charges is a landmark for Malaysia. But he also tried to drag in former Bank Negara Malaysia governor Zeti Akhtar Aziz and AmBank managing director Cheah Teck Kuang.
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Local scepticism over proposed debt offer rises as bid to include GDP warrants rejected.
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Rather than just handling payments, one mobile-phone technology entrepreneur wants to extend small lines of short-term credit to the financially excluded.
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The sovereign wealth fund is withdrawing to cash, has seen a once-in-a-generation drawdown and is positioning defensively.
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The Goldman Sachs arrangement with the government of Malaysia over 1MDB only draws a line under part of the scandal. There is more to come – and questions to answer.
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As Iran’s currency crisis deepens, observers fear that far from improving the situation, state intervention will do further damage to a country that was in economic turmoil even before coronavirus.
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Unquantifiable risk as a result of Covid-19 made the complex deal unworkable.
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Private sector digital adoption is surging because of the pandemic. The resultant efficiencies will partially offset pressure on profitability at the bank.
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The Singaporean investment company made a loss – but an impressive one in the circumstances.
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A backdrop of buoyant economic growth, falling unemployment and rising consumer confidence gave Serbia’s banks a welcome boost last year.
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A quick reaction to warning signs in Asia meant Atlantic Natural Foods was better positioned than some to deal with Covid-19 – but it still needed flexibility from its bank
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Attorney Mel Georgie Racela runs the Anti-Money Laundering Council Secretariat in the Philippines, one of two agencies tasked with getting to the bottom with the country’s involvement in the Wirecard scandal. He talks to Chris Wright.
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The country’s response to the scandal is a chance to show good governance.
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Investors should stop pretending to care about ESG risks.
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It has become almost fashionable to write off the city. There are important reasons to believe it will endure.
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The Covid-19 crisis will accelerate monetization in the Gulf and see Abu Dhabi companies take equity stakes in the emirate.
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The New Development Bank, born in Shanghai 2015 to help the five ‘Brics' countries, has had a good pandemic, disbursing $4 billion in emergency funding and printing a maiden US dollar bond. Its future plans: more capital, more members and a better credit rating.
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The awkward truce in Brazil between XP Inc and Itaú broke down in a very public way in June.
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Social distancing and government payments are turbo-charging digital bank’s growth.
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The country is losing the war on the coronavirus, as well as wasting the ensuing digital payments opportunity eagerly grasped by others in Latin America.
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Experienced mobile money market participants have given a cautious welcome to Ethiopia’s plans to liberalize its telecommunications market, but warn that the emergence of new transaction providers is far from certain.
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As the US turns its back on China, US-listed mainland firms are rushing to complete secondary share sales. For all the challenges facing Hong Kong, this week’s market debut by JD.com and Yum China’s $2 billion beauty parade, are signs of a market in rude health.
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Emerging market currencies look set to continue their bumpy ride over the coming months as the potential for a second wave of coronavirus outbreaks weighs on Asian currency sentiment.
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Mainland Chinese firms invested $72.2 billion in Africa between 2014 and 2018, much of it through the Belt and Road Initiative. Now that Covid-19 has struck, there is a growing sense of unease in Beijing over calls to write off debt to stressed African states.
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African governments and SOEs owe China more than $150 billion and Covid-19 is limiting their ability to repay. Will this usher in debt-trap diplomacy or are Chinese lenders playing a longer game?
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Will forcing all foreign firms to comply with US audit standards be the straw that breaks the camel’s back in Beijing?
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A new law prohibiting the return of banks to their former owners will unlock international funding for Ukraine. But is it really the game changer some are claiming?
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China has moved closer to approving its first onshore real estate investment trusts. When tax and gearing issues are overcome, the market could overtake the US to be the world’s largest, bankers say.
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Collapse in Brazilian equities places a question mark over recent growth in retail investment.
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Tinkoff Bank’s virtual assistant is good for eating out, but not food for thought.
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Foreign capital is flooding into Chinese bonds, but investors would be wise to scrutinize the myriad ways by which issuers can wriggle out of meeting their obligations. China’s bond markets are vibrant and attractive, but – all too often – unruly.
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India's national ID and financial inclusion system creates the rails on which food and financial aid can reach some of the most vulnerable in society. But its rigidity in a crisis is a weakness.
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The six exchange-rate system is now untenable, with the currency losing more than 50% of its value since October, but analysts say floating the currency will cause more pain without IMF support.
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The bank reports record profits, loan growth and no advance provisioning while Bradesco and Itaú focus on risks ahead.
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Co-founder Sergey Khotimskiy says the coronavirus crisis could help Russia’s private-sector banks fight back against state dominance.
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Private creditors and the Paris Club have agreed to collaborate on a debt standstill for low-income countries, but the process must be handled with care to avoid being more punitive than helpful.
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Debt relief will free up essential funds but could be more punitive than helpful.
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Profit pressure is a threat to every bank, says Qatar Islamic Bank’s group CEO Bassel Gamal, discussing how Qatar’s robust and well-capitalized banking sector is navigating the twin shocks of lower oil prices and coronavirus.
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Breathless reporting of the details of the Argentine government’s offer to bondholders tends to presuppose there is doubt in the outcome.
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Peru’s laudable coronavirus emergency measures won’t prevent its banks from taking a substantial hit – so what does that mean for less-well-run economies?
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Four months after the start of the coronavirus outbreak, financial assistance from the World Bank’s pandemic bonds is about to find its way to poor countries to help them fight Covid-19.
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China is pushing back against claims it could have done more to combat Covid-19; it could help itself by being more open about who owes it money – and clamping down on corporate shenanigans at home.
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Global banks are finally getting full access to China’s capital markets. Regulators will let them own joint ventures outright as they roll out a host of services from forex to advisory to wealth management. For Beijing it’s a final frontier – and there’s no going back.
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When corporates needed access to credit as the Covid-19 crisis ravaged Brazil’s markets, the big banks baulked or raised their costs dramatically. Is this the price of such a consolidated market, one that also provides much-needed stability in times of turmoil?
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Piyush Gupta, head of Singapore’s DBS Bank, tells Euromoney that scrapping dividends now is a mistake, discusses the mental stress of working from home, and says a multi-year recovery will hit banks hard and lead to mergers and job losses.
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The coronavirus lockdown turned WiMi’s IPO roadshow into an all-digital affair – although that may have done the augmented reality firm a favour; the Beijing-based AR specialist is now eyeing expansion into southeast Asia.
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Citi’s chief executive for Kenya and east Africa tells Euromoney how Kenya’s banks have come together to buy ventilators; how Covid-19 will accelerate the adoption of digital banking; and why the removal of the interest rate cap is more important than ever for Kenya’s SMEs.
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Shanghai’s new Nasdaq-style bourse has done more IPOs and raised more capital than any Chinese exchange – including Hong Kong – during the Covid-19 crisis. Questions remain, but so far the Star Market has been a resounding success.
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Risk that high leverage in global corporates could spark 'new global financial crisis'.
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Euromoney Livestream with special guest: Mahmoud Mohieldin, Special Envoy on Financing the 2030 Agenda, United Nations
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In 2008, China unveiled a huge stimulus package that staved off recession. Its uneasy ‘halfway-stimulus’ approach to the Covid-19 crisis is a tacit admission that Beijing just cannot afford to turn on the taps again.
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Dubai raises funding amid perfect storm of Covid-19, economic slowdown and falling oil prices.
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Bank scraps share buyback and postpones dividend decision as COO Arana warns lack of fiscal response from the government risks deeper decline.
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Relief for corporates reeling from the coronavirus will be the bank’s top focus for some time, says its global head of transaction banking.
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The country’s financial system has been transformed over the last decade, and the Viet Kieu has played a crucial role in that; Euromoney speaks to some of its leading lights about what they are doing and why.
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They seemed to be emerging, blinking, into the light of a normal financial system under former president Mauricio Macri, but that moment has gone; the new administration has sent real rates negative, while economic and credit growth look to be years away.
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The IFC’s Africa and Middle East head, Sérgio Pimenta, tells Euromoney that a fast response and private-sector support are essential in the battle against Covid-19.
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The head of UnionBank of the Philippines tells Euromoney that Covid-19 will spell the end of cash and boost the prospects of banks that offer customers the best digital banking services.
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Loan growth can return to double digits in second half of 2020, says deputy chief executive.
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The chief executive of Taiwan lender E.Sun, Joseph Huang, tells Euromoney that banks are responsible for helping not just customers but the whole of society, as Covid-19 pushes countries into lockdown.
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As Egypt ramps up measures to contain the coronavirus, CIB chairman Hisham Ezz Al-Arab tells Euromoney how the 2011 revolution has left the bank well prepared to deal with the current crisis.